Chrysler Loans forgiven

[Genx87]

Originally posted by: Firebot
LOLCapitalism.

The funniest part of this whole debacle is how the Republican sheep are acting as if this is somehow shocking news and how Obama is the cause of this when there was more money being forgiven which came from the Bush era. This would have happened regardless of who was president or what party was in power, the only thing of note was when it would happen.

Republicans and Democrats are the same, the only thing being different is the color the sheep painted their tinfoil hat to ward off the other side.

Who in this thread is surprised??????????

I saw this coming when it first was introduced.

 

[umbrella39]

Originally posted by: Saga
I really wish some of this government spending would finally go to the people directly and not through proxy.

Indeed. I keep waiting to wake one day to hear the news that they have forgiven all consumer debt. Seriously though, the little guy will continue to hurt and the big corps will continue to be bailed out because THAT is what is going to fix the economy and put some money in Joe Blow's pocket again.

 

[Cattlegod]

didn't china technically bail them out and not the US?

 

[umbrella39]

Originally posted by: cubby1223

Originally posted by: sactoking
Seriously?!? $7.2 billion gone up in smoke. $900 million Canadian gone. And we're looking to give them an additional $6.2 billion? WHEN WILL WASHINGTON LEARN?

LEARN WHAT?!! This is what they do.

Obama secured $7.2 billion to the UAW which will in turn fund Democratic election campaigns for many election cycles to come.

 

[Arkaign]

Originally posted by: ProfJohn
$7.7 billion to provide 58,000 people with jobs for 6 months???

Maybe we should have closed the company and just sent each employee a check. Might have been cheaper in the long run.

lol, I just ran the calculations, in the numbers that came back : $7.7 billion would give each of the 58,000 $51,061 a WEEK for 6 months. In fact, that's so much damned money, that you could give each employee over $4,400 a month for TEN YEARS.

I know there's overhead, but JFC on a Popsicle stick.

 

[Genx87]

Originally posted by: Arkaign

Originally posted by: ProfJohn
$7.7 billion to provide 58,000 people with jobs for 6 months???

Maybe we should have closed the company and just sent each employee a check. Might have been cheaper in the long run.

lol, I just ran the calculations, in the numbers that came back : $7.7 billion would give each of the 58,000 $51,061 a WEEK for 6 months. In fact, that's so much damned money, that you could give each employee over $4,400 a month for TEN YEARS.

I know there's overhead, but JFC on a Popsicle stick.

And why I have been saying let them fail and the employee's go on unemployment. With the money we just dropped on this deadbeat company we could have paid them unemployment for 20 years.

 

[Genx87]

Originally posted by: miketheidiot

Originally posted by: MotF Bane

Originally posted by: miketheidiot
7 billion was worth not having chrysler go bankrupt 6 months ago.

:disgust:

if you look bad at the original thread from back that , i said precisely that. Having GM or chrysler go bankrupt 6 months ago would have been catastrophic, now, not so much.

How is it any less worse today than back then? Would chrylser going tits up before the holiday made our gdp numbers and unemployment numbers that much worse? I mean really? We are shedding jobs at a rate of 600K a month and our gdp contracted at nearly 7%.

 

[Schadenfroh]

More money down the drain. Chrysler should have died back in the late 70s.

$7.7 billion would give each of the 58,000 $51,061 a WEEK for 6 months. In fact, that's so much damned money, that you could give each employee over $4,400 a month for TEN YEARS.

Dear goodness...

 

[Mursilis]

Originally posted by: Arkaign

Originally posted by: ProfJohn
$7.7 billion to provide 58,000 people with jobs for 6 months???

Maybe we should have closed the company and just sent each employee a check. Might have been cheaper in the long run.

lol, I just ran the calculations, in the numbers that came back : $7.7 billion would give each of the 58,000 $51,061 a WEEK for 6 months. In fact, that's so much damned money, that you could give each employee over $4,400 a month for TEN YEARS.

I know there's overhead, but JFC on a Popsicle stick.

Thanks for crunching the numbers. Or maybe the gov't could've just bought out Chrysler's production run, thereby keeping them afloat and the workers employed, and donate the cars to the working poor or something. Wonder how much that would've cost? But is it really fair to the poor to give them Chrysler products?

 

[BoberFett]

I wouldn't call simple division "number crunching", especially when it's wrong.

7,700,000,000 / 58,000 = 132,758.62

Still a lot of money for six months of work, but not nearly what was stated here.

 

[Mursilis]

Originally posted by: BoberFett
I wouldn't call simple division "number crunching", especially when it's wrong.

7,700,000,000 / 58,000 = 132,758.62

Still a lot of money for six months of work, but not nearly what was stated here.

You're right. Thanks.

 

[NoCreativity]

Originally posted by: BoberFett
I wouldn't call simple division "number crunching", especially when it's wrong.

7,700,000,000 / 58,000 = 132,758.62

Still a lot of money for six months of work, but not nearly what was stated here.

58,000 is solely the number of Chrysler LLC employees. It does not take into account dealership employees nor suppliers, which add a lot more employees into the equation.

 

[rudder]

Originally posted by: MIKEMIKE
cuz 7B is such a large amount... its a frickin drop in the bucket...

No, $7B is a small amount in the grand scheme of things. But the money did not just go poof. The UAW was given a majority interest in the company so they can possibly sell the stock that belongs to the American public. I want my damn money back!

 

[K1052]

Originally posted by: NoCreativity

Originally posted by: BoberFett
I wouldn't call simple division "number crunching", especially when it's wrong.

7,700,000,000 / 58,000 = 132,758.62

Still a lot of money for six months of work, but not nearly what was stated here.

58,000 is solely the number of Chrysler LLC employees. It does not take into account dealership employees nor suppliers, which add a lot more employees into the equation.

Not to mention the businesses that survive off those employees. It sucks in general but after shoveling FAR larger amounts into the cash incinerator that is AIG the general public actually gets more direct help from the Chrysler bailout for a lot less money.

The judge approved the bidding process that Chrysler wanted. The remaining holdouts amount to less than 5% of the secured debt and that number is going to dwindle further now that there is no veil of secrecy on their identities. Barring something really unusual turning up in the bids the deal should go through as planned.

 

[miketheidiot]

Originally posted by: Genx87

Originally posted by: miketheidiot

Originally posted by: MotF Bane

Originally posted by: miketheidiot
7 billion was worth not having chrysler go bankrupt 6 months ago.

:disgust:

if you look bad at the original thread from back that , i said precisely that. Having GM or chrysler go bankrupt 6 months ago would have been catastrophic, now, not so much.

How is it any less worse today than back then? Would chrylser going tits up before the holiday made our gdp numbers and unemployment numbers that much worse? I mean really? We are shedding jobs at a rate of 600K a month and our gdp contracted at nearly 7%.

its not about the gdp number or jobs, those don't really matter, it was more about consumer confidence and especially preventing further systemic shocks to the economy. Keeping some people on the employment books was a special bonus, at least with chrysler.

 

[MotF Bane]

Originally posted by: miketheidiot

Originally posted by: MotF Bane

Originally posted by: miketheidiot
7 billion was worth not having chrysler go bankrupt 6 months ago.

:disgust:

if you look bad at the original thread from back that , i said precisely that. Having GM or chrysler go bankrupt 6 months ago would have been catastrophic, now, not so much.

Saying it six months ago and repeating it now doesn't make it any more intelligent.

 

[miketheidiot]

Originally posted by: MotF Bane

Originally posted by: miketheidiot

Originally posted by: MotF Bane

Originally posted by: miketheidiot
7 billion was worth not having chrysler go bankrupt 6 months ago.

:disgust:

if you look bad at the original thread from back that , i said precisely that. Having GM or chrysler go bankrupt 6 months ago would have been catastrophic, now, not so much.

Saying it six months ago and repeating it now doesn't make it any more intelligent.

just because you are too dumb to get it doesn't mean i'm not right (and i am)

 

[sactoking]

Originally posted by: GuitarDaddy
Great sensationalism reporting there OP, you post as if the loans are already forgiven just because some analysts working for the bankruptee is baseing there projections on it

We are in the talk smack stage of the proceedings which don't indicate much at all about the final judgment and many people expect that the actual outcome of the proceedings will be much different than you report.

A) I didn't "report", I commented
B)

An Obama administration official confirmed Tuesday that Chrysler won't be repaying the loans

Reading comprehension FTL

 

[Fear No Evil]

I swear Obama is going to start bombing Iran and the libs of this forum will be calling it a stimulus program for the military fully supporting it.

 

[Genx87]

Originally posted by: miketheidiot
its not about the gdp number or jobs, those don't really matter, it was more about consumer confidence and especially preventing further systemic shocks to the economy. Keeping some people on the employment books was a special bonus, at least with chrysler.

My point about the gdp numbers and the shedding of jobs is I dont think it would have made a difference. The system imploded about the time these bailouts were given regardless. Tossing this onto the fire wouldnt have enraged it much more and it would have been done months ago. Instead we get to pay big bucks to prolong the misery.

 

[MotF Bane]

Originally posted by: miketheidiot

Originally posted by: MotF Bane

Originally posted by: miketheidiot

Originally posted by: MotF Bane

Originally posted by: miketheidiot
7 billion was worth not having chrysler go bankrupt 6 months ago.

:disgust:

if you look bad at the original thread from back that , i said precisely that. Having GM or chrysler go bankrupt 6 months ago would have been catastrophic, now, not so much.

Saying it six months ago and repeating it now doesn't make it any more intelligent.

just because you are too dumb to get it doesn't mean i'm not right (and i am)

It means you're still a moron six months later.

 

[waggy]

Originally posted by: miketheidiot

Originally posted by: MotF Bane

Originally posted by: miketheidiot

Originally posted by: MotF Bane

Originally posted by: miketheidiot
7 billion was worth not having chrysler go bankrupt 6 months ago.

:disgust:

if you look bad at the original thread from back that , i said precisely that. Having GM or chrysler go bankrupt 6 months ago would have been catastrophic, now, not so much.

Saying it six months ago and repeating it now doesn't make it any more intelligent.

just because you are too dumb to get it doesn't mean i'm not right (and i am)

how about you tell us why its better that they go in now then 6 months ago. right now all you are doing is sayin "see? im right!?"

 

[eleison]

Originally posted by: waggy

Originally posted by: miketheidiot

Originally posted by: MotF Bane

Originally posted by: miketheidiot

Originally posted by: MotF Bane

Originally posted by: miketheidiot
7 billion was worth not having chrysler go bankrupt 6 months ago.

:disgust:

if you look bad at the original thread from back that , i said precisely that. Having GM or chrysler go bankrupt 6 months ago would have been catastrophic, now, not so much.

Saying it six months ago and repeating it now doesn't make it any more intelligent.

just because you are too dumb to get it doesn't mean i'm not right (and i am)

how about you tell us why its better that they go in now then 6 months ago. right now all you are doing is sayin "see? im right!?"

Isn't there about "7 billion" reasons why? In any case, its depressing how the "teabagging" of America continues.

 

[OCGuy]

Originally posted by: eleison

Isn't there about "7 billion" reasons why? In any case, its depressing how the "teabagging" of America continues.

Obama: Teabagging the US taxpayer for 100+ days!

 

[BoberFett]

Originally posted by: waggy

Originally posted by: miketheidiot

Originally posted by: MotF Bane

Originally posted by: miketheidiot

Originally posted by: MotF Bane

Originally posted by: miketheidiot
7 billion was worth not having chrysler go bankrupt 6 months ago.

:disgust:

if you look bad at the original thread from back that , i said precisely that. Having GM or chrysler go bankrupt 6 months ago would have been catastrophic, now, not so much.

Saying it six months ago and repeating it now doesn't make it any more intelligent.

just because you are too dumb to get it doesn't mean i'm not right (and i am)

how about you tell us why its better that they go in now then 6 months ago. right now all you are doing is sayin "see? im right!?"

That's all he ever does. He's LegendKiller's yes man, with not a single independent thought.